The correct answer is: Both I and II follow.
The statement says that the Union Ministry of Tourism and Civil Aviation has fixed an annual target of Rs 10,000 crores by way of tourism earnings towards the end of the current decade. This means that the Ministry is expecting to earn Rs 100,000 crores in total from tourism in the next 10 years.
Course of action I says that there is no need of development of further new tourist spots to meet the target. This is not necessarily true. While it is possible to meet the target without developing new tourist spots, it would be difficult to do so without increasing the number of tourists visiting existing tourist spots. This would require the Ministry to invest in marketing and promotion, as well as in improving the infrastructure at existing tourist spots.
Course of action II says that the Ministry should evolve attractive packages to woo the foreign tourists to meet the target. This is a good idea, as it would help to attract more foreign tourists to India. However, it is not the only way to meet the target. The Ministry could also focus on attracting more domestic tourists, or on increasing the average spending of tourists.
In conclusion, both course of action I and II could help the Ministry to meet its target of Rs 10,000 crores in tourism earnings.